Specialist Probate Solicitors
It is extremely stressful when a loved one dies, administering the estate can also be very complicated and stressful for the beneficiaries and executors. We have the experience and compassion to guide you through this process and ensure the best possible outcomes are achieved for your family.
If a person has a will the process of administering the estate is calling probate, if there is no known will or the will cannot be located the process is Letters of Administration.
Typically the Executor of the will is responsible for administering the estate. The Executor’s duties involve but are not limited to applying for Probate, Collecting the assets and distributing the assets in accordance with the Will/Probate. In most cases, depending on the amount or value of the estate; the assets cannot be distributed before a Grant of Probate is obtained through the NSW Supreme Court located in Sydney.
Typically when a person dies, their assets are ‘frozen’ pending probate or Letters of Administration. It is important for the executor to know that they may be able to approach the deceased’s bank to cover these accounts including funeral expenses.
What do I need to do when a person dies?
- Following the reporting of the death, either to the Police or Medical Professionals, you will need to organise the funeral – remember that you may be able to access the deceased money to do this with the assistance of their financial institution.
- Register the Death with Service NSW – typically the Funeral Director will attend to this, however it needs to be completed within 7 days from the date of death. Service NSW will be responsible for issuing the death certificate by post.
- Notification of Death to Services – The Australian Government run a program called Australian Death Notification Service which links in to a number of institutions and major corporations to make this process streamlined.
- Start to collect together the financial records, list of assets of the estate, if is not necessary to have a full statements or up to date accounts but your solicitor will require to know who to reach out to for this information. Part of the probate process will be creating a record of account of the estate with values.
Do we have to apply for Probate?
There is no statutory requirement to obtain probate in every case. There are a number of occasions where particular assets are not included in the estate of a person. There can include:
Property owned in Joint Tenancy
Joint Tenants is a very common way of owning property where each ‘owner’ does not own a distinct portion or part of the property; this will be extremely common between husband and wife for instance. Where the deceased is a Joint Tenant with another person, probate is not required, the surviving owner needs to speak with a with us or a or Conveyancer to arrange a Notification of Death with NSW Land and Registry Services to become the Sole Owner on title.
Where the Property is owned as Tenants in Common with another person/s, this will require Probate as each person owns a distinct ‘portion’ of the property.
Joint Bank Accounts
In cases where the deceased person shares another bank account with another person, the “right of survivorship” will generally apply and probate is not required for the release or transfer of the money. What this means is that irrespective of the will, the survivor is entitled to the account. The banks will need to be notified of the deceased death by one of the account holders and the deceased’s name is effectively removed from the account. Please be aware often this may not occur with mortgages or it can take some time, which can be distressing.
Shares or Bank Accounts with Low Value
If the shares or bank accounts remaining (held in a solely held account) are have small value and there is no other need for probate, the executor should approach the bank, shareholder or financial institution for the release of funds to the beneficiaries in accordance with the will. Every financial institution will have differing amounts or thresholds that can vary between $20,000 to $50,000.
Superannuation
Probate may be required in cases where there is not a current and valid binding nomination by the deceased person. Funds can also vary greatly in cases where there is a binding nomination to pay the nominee, this can take weeks to months depending on the fund.
Motor Vehicles
In cases where there is a will and probate is not required, the executor may be able to approach Service NSW and organise the transfer of the vehicle to the executor and/or beneficiary, especially in the case of if the beneficiary is the surviving joint operator or next of kin.
Our Office located in the Hills services, Sydney including Parramatta probate lawyers understand how difficult this time is. We give you the benefit of years of experience to ensure that the process is as smooth as possible.
Our fees are fixed in nature in accordance with the scaled fees found in Schedule 3 of the Legal Profession uniform Law Application Regulation which are based off the value of the estate.